Shareholders' rights and obligations
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According to the Corporate Governance Code: The Corporate bylaws grant certain additiona

Shareholders' Meeting

Shareholders' rights and obligations

Última actualización 27 feb. 2017

The Corporate bylaws grant certain additional rights and guarantees to its Shareholders, in excess of those minimum legal guarantees, and they seek to ensure that the Company treats all shareholders equally, and without granting any privileges to the interests of anyone, over the others.

The Company´s shareholders shall have the following rights and guarantees.

1. To take part in the deliberations of the General Shareholders´ Meeting and to vote as part of the corresponding decision-making processes, including the appointment of the internal institutions and individuals who, in accordance with the Law and the Corporate Statutes, they are entitled to elect and, if necessary, to have effective mechanisms at hand to be represented before said Meetings. 

2. To receive, as dividends, a part of the Company´s profits in a proportion equivalent to the number of shares that the holder owns, in accordance with the provisions set forth by Law and under the Corporate Statutes. 

3. To have access to the Company´s public information in a timely and comprehensive manner, and to freely inspect the books and other documents disclosed in articles 446 and 447 of the Code of Commerce, within the fifteen (15) working days prior to the meetings of the General Shareholders´ Meeting, where the end-of-year financial statements are discussed. 

4. To receive a proportional part of the corporate assets at the time of liquidation of the Company, should this take place and, once the Companies external liabilities have been paid, in a proportion equivalent to the shares the holder owns. 

5. To be represented by a third party, through a notice in which they express the attorney´s name and the extent of its powers. The powers for representation before the General Shareholders´ Meeting must be presented in accordance with the provisions set forth by article 184 of the Code of Commerce. 

6. To transfer or dispose of his shares, in accordance with legal provisions and the corporate statutes, as well as to know the methods for stock registration and the identity of the Company?s main shareholders, in accordance with the law. 

7. To make recommendations about the Company´s good corporate governance, through written requests filed before the Shareholders and Investors Service Office. 

8. To request, jointly with other shareholders, the summons to an extraordinary meeting of the General Shareholders´ Meeting, in accordance with the provisions set forth in the Corporate Statutes and in this Code. 

9. To request, with Ecopetrol S.A.'s Shareholders and Investors Service Office, authorization to initiate, at his / her own expenses and under his / her responsibility, specialized audits under the terms established in this Code. 

10. To present proposals to the Board of Directors, jointly with other shareholders, under the terms defined hereunder. 

11. To make and present claims regarding the compliance with the norms contained in this Code, under the terms established herein. 

12. During the effective term for the Nation's Statement in its nature as Ecopetrol S.A.´s majority shareholder, on July 26th, 2007, to exercise the right to withdrawal as per the terms established in that Statement. 

13. All other rights granted to them by law and by the Corporate Bylaws. 

Obligations
Shareholders must act with loyalty towards the Company, abstaining from participating in actions or behaving in a manner that would put the Company's interests at risk, or which represent a disclosure of the Company's privileged information.